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BHP Billiton signs gas sale and purchase agreement
BHP Billiton, together with its joint venturer Esso Australia Resources (Pty) Ltd, today announced the signing of a substantial gas sale and purchase agreement with AGL Wholesale Gas Limited (AGL).
The agreement is for the sale and purchase of up to 983 petajoules (gross) of Bass Strait gas to AGL over a period of up to 14 years from 2004 to 2017. First gas sales are scheduled to commence on 1 Jan 04.
Currently, the majority of gas entering the South Eastern Australia gas market is supplied under a long-term contract between BHP Billiton/Esso and the previously Government owned Gascor. This contract is due to expire towards the end of the decade.
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BHP Billiton signs gas agreement with TXU
BHP Billiton, together with its joint venturer Esso Australia Resources Pty Ltd, today (17 Dec 03) announced the signing of a substantial gas sale and purchase agreement with TXU Electricity Ltd (TXU). The agreement is for the sale and purchase of 825 petajoules gross of Bass Strait gas to TXU in the period 2004 to 2017. First gas sales are scheduled to commence on 1 Jan 04.
Currently, the majority of gas entering the South Eastern Australia gas market is supplied under a long-term contract between BHP Billiton/Esso and the previously State owned Gascor. This contract is due to expire towards the end of the decade.
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BHP selects single auditor
BHP Billiton today (5 Dec 03) announced that its Risk Management and Audit Committee had completed a review of its external audit services. As part of the review, proposals were invited from PWC and KPMG, the company's current joint auditors, on ways to enhance the efficiency of the audit going forward. KPMG, one half of the existing joint audit team, has been selected to continue as auditor.
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BHP announces sale of highland valley
BHP announced today (3 Dec 03) that it had entered into agreements to sell its 33.6% interest in Highland Valley Copper mine and 100% interest in Robinson mine to Quadra Mining Ltd for an aggregate cash consideration of USD91m. The consideration is split USD73m for HVC and USD18m for Robinson, payable in full upon completion, which is targeted for Feb 04. Both transactions are subject to various conditions, including the settlement of definitive documentations and the raising of the required funds by Quadra.
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BHP announces resignation of CDO
BHP today (2 Dec 03) announced the resignation of David Munro following his decision to join RMC Group plc as group chief executive in mid-Jan 04. Munro is the chief development officer of BHP Billiton.
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